New data suggests 'shift in priorities' among employers, employees
More than 50% of small and medium enterprises (SMEs) in New Zealand have left behind hybrid and remote work arrangements in order to get staff back on-site, according to a new survey.
The poll, carried out by Peninsula Group, included businesses across Australia, Canada, Ireland, New Zealand, and the United Kingdom. There were 240 respondents from New Zealand, which are clients of Employsure.
David Price, CEO at Employsure, said employers have also been opting for flexible working hours to aid employee retention, making it the top measure to keep staff.
"Combined with the finding that more than half of businesses have returned to the office full time this suggests that there's been a shift in priorities of employers and employees needing more collaboration and team engagement, therefore returning to a permanent office-first model but with a little more flexibility," Price said in a statement.
Globally, 50% of all respondents said their employees are working on-site full-time, while 10.1% have made hybrid work a permanent policy. Only 14.7% of all respondents globally also said they are implementing flexible working hours.
Staffing issues extend to 2024
The findings come as recruitment continues to be a struggle for many Kiwi employers as they enter a new year, according to the CEO.
This is also the case for other respondents worldwide, with labour shortages emerging as the second-highest concern (45.6%) for employers, with retention in third place (41.5%). Rising costs is the top concern cited by 84.2% of all businesses surveyed.
The cost-of-living crisis and staffing shortages have prompted 56.3% of employers to offer financial remuneration to enhance retention. Canada leads other participating countries with an impressive 64.9% opting for financial incentives, according to the report.
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Increase in reward and recognition strategies
For those unable to provide monetary benefits, a 131% increase in reward and recognition strategies has been reported globally. Nearly half of employers (46.5%) are also investing in upskilling and training their existing staff, while apprenticeships have witnessed a 36% rise globally.
"Globally, it's indicated that this will be a tough year for many businesses, but there is also a mood of opportunity. Employers are seeing the value in retaining employees and, in turn, employees are reaping the benefits," Price said.
"As January starts – traditionally the time of year when most people look for new jobs – it’s no surprise that business owners are looking at ways to upskill and retain their own employees, rather than having to spend time and money recruiting."